Is it wrong to be a long term holder - page 6.

Kelvinid

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Quote from: HardCore12V on September 11, 2021, 04:30:45 AM

Only those who have no other source of income will find it harder to hold coins and tokens for many years, there is no ROI that's better than long term holding, all you have to do is make sure you holding the best coins and tokens, good projects never stay at low value for years they grow better and better in the end only the patience dog eats the fattest bones

The financial matter is a huge factor that could affect us and it was really hard when you are considering crypto as the main source of income. Rich people don't mind how long they've held, they have that advantage and it was easy for them to say JUST HOLD. But for us who are just of limited capital and dependent on crypto, even holding for 1 year is seems impossible.

But anyway, holding is just an option. We have to hold coins if that is worth it and to sell non-potential coins.

LogitechMouse

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Quote from: Bitbtc8 on September 10, 2021, 01:12:23 PM

Why do people refuse to take profits when their coins and tokens are surging so high? Should this be called greed or they simply have strong believe that the coins and tokens will worth more in future? Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there

There are many reasons but the primary reason why they don't want to take profits when it is surging is because they are thinking that it will go even higher. They think it that way and they don't want to loss more profits that is why they are holding it even more.

There is nothing wrong with it but as for me, it would be better to secure some profits than holding more hoping that you will get more profits if you hold. Some might tell that the investor are greedy but I think it isn't. I can call it as lack of plans. At least before investing, know when to enter and when to exit and stick to that plan whatever happens. To answer your question, there is nothing wrong being a long term holder as long as you are holding some good coins that will yield you profits if you will hold them for a long period of time.

King Khaizan

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There are various ways to be done by cryptocurrency hunters, but all of them have to be realistic.

Buy cryptocurrency investments for the long term at least a few decades.

The reason is because the idea of this cryptocurrency will not go away. Once an idea is implanted into the minds of the public, it never dies, and cryptocurrencies have definitely been firmly entrenched in the minds of the public.

Cryptocurrencies will still exist. The question is: when will prices reflect a more accurate value for crypto making it more stable and predictable?

The price of this virtual currency will fluctuate wildly, so don't think you can make money fast and become the next crypto millionaire.

On the other hand, it is more realistic to understand that cryptocurrencies will still exist, but the market needs time to mature for you to invest in cryptocurrencies smartly.

HardCore12V

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Only those who have no other source of income will find it harder to hold coins and tokens for many years, there is no ROI that's better than long term holding, all you have to do is make sure you holding the best coins and tokens, good projects never stay at low value for years they grow better and better in the end only the patience dog eats the fattest bones

Cling18

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It isn't wrong to be a long-term holder if that's our strategy. As long as we're holding a potential coin, then we should be confident about it and trust the capability of the coin. Check the whitepaper and the strength of a coin to see if it's worth holding for a long time.

Bitbtc8

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Quote from: seleme on September 10, 2021, 03:52:33 PM

What if the market triples the total value in 6 months? Long-term holding is the way to prevent accepting investing decisions on a short-term basis, I prefer to wait than giving back all to market in daytrading.

Many crypto investors are beginners, they need something to atleast survive with, I was in this position years back and I can't keep holding until I secure some money for myself first, if anyone is in this position or situation I advice they they profits first and think about holding when they have other means of surviving

michellee

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I try to take from here: https://prnt.sc/1rs2exg in is one of the statements from CZ, so, what can we take there?

Most people find it difficult to hold crypto long term, when they go up they want to quickly take profit for fear of going down, when the market goes down they immediately panic selling. This means that if you are used to crypto and live your daily life using crypto, then you will get used to long-term holding without thinking about selling. The point is that crypto is a part of everyday life, not just a trading & investment tool.

That will be their mistake because nothing can give you a fast result in this world. We need to have the patience to wait for a while and it is not difficult to hold crypto for the long term because as long as they can calm down while they hold their coins and do another thing, their mind will not think about crypto. Crypto is a long-term investment but crypto can be a short-term investment, depend on how you pick the coin. So if you can remain calm while watching the price moves, you will not have any problem holding your coins.

RockCryptoWorld

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Quote from: Bitbtc8 on September 10, 2021, 01:12:23 PM

Why do people refuse to take profits when their coins and tokens are surging so high? Should this be called greed or they simply have strong believe that the coins and tokens will worth more in future? Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there

No, I'm looking for a long term projects, recently bought SDAO cuz they were listed on KUCOIN and I can tell you that DEFI long term project is a way profitable way than shit meme coins lol

midaslordes

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Quote from: Bitbtc8 on September 10, 2021, 01:12:23 PM

Why do people refuse to take profits when their coins and tokens are surging so high? Should this be called greed or they simply have strong believe that the coins and tokens will worth more in future? Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there

Its a matter of self-choice especially in the term of hodling. If you know that your token is worth to hodl in just a short term then do short term hodling but if there is a very high potential to grow massively as time goes by then hodl long-term. Bitcoin for example is one of the proof that hodling crypto for long term basis is more profitable than doing a short term hodling.

Levero

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Even if the price of the investment currency has risen many times, many people still believe that the price will be higher in the future. So most people are greedy. Even though they have already made some profits, they still choose to keep holding, waiting for the value of the currency to get higher and higher to get more benefits.

LyJones

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Everyone has their own target price. When the price is reached, it will consider selling or continuing to hold.
Generally greedy people will choose to keep holding. If it is Bitcoin, it is possible to choose to hold it. If it is a meme coin, you can consider selling it for profit after reaching the price in your mind.

coin-investor

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That is a wrong way to HODL and it's wrong to still hold it on when it already reached 1000 times profit, you can sell a portion and just buyback when there's a drip on the coin you are holding, you will regret it later if you do not have a target price to sell and 1000 times increase is already huge profit for holders not to sell.

eaLiTy

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i do believe if we always take profit when its price hit peak and rebuy it could accumullate our assets. by buy and sell we get double benefits , we got profits in dollar and also accumulation in our assets . having trading skill really helpfull in our investment growth,we know how to face the recent market condition.

Not necessarily that you could accumulate your asset if you trade over a long period all the time. The selection of the coin should be a primary factor, you cannot expect all the coins in the market to recover after their initial pump. The best coins in the market will always move higher after every correction, but you cannot expect every coin to make the same impact.

Luqman

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I think it's wrong if we or our relatives are sick and need money but we don't want to sell the coins we have for very important purposes so I call them greedy people.

Agree. For urgent needs, why don't to sell our coins at whatever price. I have experienced this, I ever got sick and I have no money in my pocket, I just have some coins in my wallets. On that day, I don't think twice to sell or keep holding, I directly sell some of my coins to get fiats. I need fiats to go to the doctor and get some medicine. I also ever sold my coins for food, I think it is something needed to prioritize than holding for investment.

bhooscream

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Quote from: Bitbtc8 on September 10, 2021, 01:12:23 PM

Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there

If it is already growing 1000x, I think it is better to sell all the coins. We can buy again the coin when there is a correction or a dump in the future. Remember that growing till 1000x rarely happened, I even never saw my coins increase more than 100x. I will immediately sell all the coins if there is a coin increasing its value 1000x, too greedy if still thinking to hold and expect more increase. Be wise and think realistically about the profits!

Hypnosis00

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Quote from: Bitbtc8 on September 10, 2021, 01:12:23 PM

Why do people refuse to take profits when their coins and tokens are surging so high? Should this be called greed or they simply have strong believe that the coins and tokens will worth more in future? Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there

It will be wrong if you hold shitcoins/useless coins, other than that it was good. But it doesn't mean that you hold it forever, remember how the market volatility, we take chance to get a profit in every pump it had, so selling is yet to come once there is an opportunity, though.

In many cases that people have been fooled by holding, 5 years, 10 years? That actually a waste of time and we are not sure if it turns bullish during that time. 1000x profit? That was a sort of greediness, I don't know if that really comes nor it happens in real life. 100x is worth enough, IMO. And I never have to miss this chance.

blockman

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Quote from: Bitbtc8 on September 10, 2021, 01:12:23 PM

Why do people refuse to take profits when their coins and tokens are surging so high?

It is because their goal is higher than the current high that they've been seeing and witnessing. It's not that bad to aim higher but if you're satisfied with the profit that you have to take, take it no matter what and just buy back if the price plummets again.

Quote from: Bitbtc8 on September 10, 2021, 01:12:23 PM

Should this be called greed or they simply have strong believe that the coins and tokens will worth more in future? Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there

Sometimes it is greed because that's what happened to me but it's with bitcoin so at the same time, I've believed in the future of bitcoin but I have to take profit because I need it but I've thought of a higher price. So I've missed to take the profits because it started to drop, this was way back on 2018.

Yaunfitda

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Quote from: Bitbtc8 on September 10, 2021, 01:12:23 PM

Why do people refuse to take profits when their coins and tokens are surging so high? Should this be called greed or they simply have strong believe that the coins and tokens will worth more in future? Is it wrong to keep holding coins even when they bring 1000x profits cos everyone seem to be talking about 'greed' here and there

There is no wrong or right decision here, it's your money anyway, you can decide when to sell and take profits or continue to hold. Number one reason I can think of why people are not taking profits because simple then don't need the money at that time, maybe they invest what they can afford to lose. Second is, they believed in the coins, the technology behind and the potential for even higher profits in the future. Third, maybe they are financial stable, and may have diversify their portfolio and crypto profits is just a chump change for it. So as I have said, every strategy is good (short or long term) as long as it fits your goal in the future.

Jating

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And being a long-term holder is a way that until now I have failed to withstand the temptations of the market. It seems that my soul is not the soul of a Holder, I envy my brothers even though they were taught by me to invest and hold crypto assets long term. But instead, I failed while the people I taught actually succeeded. The only regret is on my mind.

It takes a lot of practices and patience, you have to be mentally tough as well not to be tempted to sell when the price is high. But in any case, not that bad to take profits from time to time and then buy then continue to hold, that's also a good practice.

And for those who doesn't sell at its peaked, maybe they know that this coin is going to be worth ever higher in the future. The key thing here is timing, and then you also have your goals. So holding is not for everyone I guess.

Spack17

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Of course it is not wrong to be a long term holder. In fact, it is the best way to make a great amount of profit in a highly volatile market like this. You should care about setting a target price to sell above all else. It is the most critical thing as it helps you not become a greedy person. Greed can make someone do really silly things and you can lose even your capital. It is always important to act smarter if you really want to make money in a cryptocurrency.

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